Fair Salary (Base + Bonus) for 3 years Development Experience
I have my 3 year review coming up and am expecting to get a raise. Work at a family office. I'm currently underpaid ($85k base + 5% bonus) in a HCOL city. My question is what is my worth range in today's market?
Have looked at other comp threads and haven't found an exact comparable- have just seen others with less experience making more than me.
I'm more on the financial side- so on our acquisitions team, work with our asset management team, perform various one off financial analyses, responsible for following market trends and tracking local development pipeline.
It is a good gig- work closely with C Suite executives who care about my growth, rarely work over 45 hours/week. But want to know what a fair salary is for 3 years work experience for my role with no masters degree.
Is your question what is your market comp range worth with the shop your currently at or if you were to move to another firm?
I'll take a stab if you're referring to the family office you're at, but I have little to know information about your shop. I would say you should be in the 85-100k base range + (25% bonus at least) unless you guys are really inactive and not closing on anything.
I work for a developer now and have a little over 2 years of experience and came from a capital markets brokerage group. I was able to leverage my pay in my previous role to get where I am now but I'm at 90k + 40% bonus target and my hours are probably similar to yours with a rare occasion of a crazy week that I get blown out.
Which market are you in?
What I've been told is the company isn't big on bonuses. We have not closed a lot of deals, a lot of our projects are supposed to break ground in 2024. I don't think a more active pipeline would drive up the bonus amount. The bonus is low, this is something I was going to bring up.
LA
Only comparable, if you are in NYC market, you should be around 110k-125k all in. I would stay if they could offer you the path to associate. Those hours are good.
You're getting fleeced. Should be over $100k base by now, with minimum 20% bonus.
CEL's Annual RE Salary Survey is what you want to read.
While it may not have data broken out for a family office environment it will certainly give you the flavor of what your peers in development are earning at your level which is a very helpful gauge for understanding your value bracket in the job market. I suggest frequently checking the CEL website to ensure your not languishing comp wise. Sometimes you need to make a move.
https://celassociates.com/prime/wp-content/uploads/2023/02/cel2022compensationsurveyresults.pdf
This is helpful. So a "project analyst" under residential development is around $90k-$100k base plus 21% bonus average. So $110k-$120k all in. Does not breakout YOE but helpful.
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